Found guilty of fraud and conspiracy to Elizabeth Holmes; jury is said still stuck on 3 of the 11 charges


Holmes was hailed as a visionary, with a noble mission to revolutionize blood testing.

Photo: Justin Sullivan / AFP / Getty Images

Elizabeth Holmes, founder of the biotech company Theranos in 2003 at age 19, was convicted of three counts of wire fraud and one count of conspiracy against the company’s investors.

But nevertheless, the jury said it did not reach a consensus on one count of conspiracy to commit wire fraud against doctors and patients, and three other counts of wire fraud.

It should be remembered that with Theranos, Holmes promised results that would be faster and cheaper than those offered by traditional laboratories, and performed with just a few drops of blood.

At the time, Holmes was considered a visionary and even compared to the founder of Apple, Steve Jobs, in the field of medicine, however, in the end, she was accused of fraud.

According to calculations, Holmes went on to raise an estimated fortune of $ 3,600,000,000, according to Forbes magazine in 2014. At the time, she was the youngest millionaire without having inherited a fortune.

Despite this first verdict, the jury, which has been out for seven days in the fraud trial, sent a note to the judge saying they could not decide on three of the 11 fraud charges.

Judge Edward J. Davila, at the request of the prosecutor, read the jury’s instructions known as “Allen charges,” telling them to resume deliberations and attempt to reach a verdict on all three charges.

“As jurors, you have a duty to discuss the case with each other and to deliberate in an effort to reach a unanimous verdict, if each of you can do so without violating your individual judgment and conscience,” Dávila read.

Holmes and former Theranos COO Ramesh “Sunny” Balwani, who were romantically involved while working together, were accused of participating in a multi-million dollar scheme to defraud investors from 2010 to 2015, as well as a scheme to defraud investors. Doctors and patients who paid for their blood test services from 2013 to 2016. Both have pleaded not guilty.

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